Strategic Management

Strategic management has changed since the 1970s. Basically strategic management studies started in the 1950s and 1960s and then evolved along the way to today. Strategic management just refers to the fact that an organization is working with clearly stated strategies to meet its vision. The strategies have changed from the 1970s to now. In 1970s strategic management was mostly centred on the ideas of size, growth and portfolio. This means managers saw the need to seek growth through size and increased portfolio. By portfolio we mean different investment opportunities or diversification. In the 1970s there was emphasis on market growth strategies. The main emphasis was on extending the markets as a means of harnessing more profits. By this time firms were market oriented. Their strategies were to control as much market as possible. Impact of market shares has led to the concept of increased profit based on reaching as many people as possible. There was the need to craft strategies that affected the entire organization not sub units. The need for overall company orientation was important.

Strategic planning has changed a bit from that time. The focus has changed. The earlier focus was on growth and market share. Now the focus is on an efficient organization that has greater coordination and viability. The strategies have changed. Companies are no longer market oriented as before. Their focus is now on the overall organization. Departments can have their own strategies. In the 1970s only a centralized strategy was required. There are things that have remained the same. The need for clear objectives is still the same. The need to study the environmental factors and create a strategy based on that is still the same.
Firms use mission and vision statements to communicate their main…...

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...1.0 WHAT ARE THE ELEMENTS OF STRATEGIC MANAGEMENT?
Strategic management consists of the analyses, decisions and actions an organization undertakes in order to create and sustain competitive advantages.
The strategic management process is made up of four elements: situation analysis, strategy formulation, strategy implementation, and strategy evaluation. These elements are steps that are performed, in order, when developing a new strategic management plan.
Situation Analysis
The situation analysis provides the information necessary to create a company mission statement. Situation analysis involves "scanning and evaluating the organizational context, the external environment, and the organizational environment" (Coulter, 2005). This analysis can be performed using several techniques. Observation and communication are two very effective methods.
To begin this process, organizations should observe the internal company environment. This includes employee interaction with other employees, employee interaction with management, manager interaction with other managers, and management interaction with shareholders. In addition, discussions, interviews, and surveys can be used to analyse the internal environment.
Organizations also need to analyse the external environment. This would include customers, suppliers, creditors, and competitors. Several questions can be asked which may help analyse the external environment. It examines the company’s relationship with its customers and...

...Strategy is a diverse term that is differently perceived by different people. However, here we are concerned with its meaning in relation to the higher management of organizations. Strategy may be defined as the direction and scope of an organisation over the long term, which achieve advantage in a changing environment its configuration of resources and competences as to fulfil the expectations of the stakeholders.
For any plan to be successful, it is crucial to use the tool of effective management. Strategic management would be the right term to use here. Under the phenomenon of strategic management, organizations try to procure benefits by amalgamating realistic plans and meaningful actions. Strategic management is a phenomenon that can be classified into three elements. These are strategic position, strategic choices, and strategy implementation.
Strategic position is central to the strategic management according to which any business entity must evaluate its position in relation to macro and micro environment. Macro environment includes the political, economic, social, technological, legal, and ecological factors. Obviously, a business organization cannot be immune to all these factors. A continuous change in the intensity of these factors means that their impact on the business will keep changing. Decisions are, therefore, should be taken by keeping in view these factors.
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...Strategic Management and Strategic Competitiveness
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Science Applications International Corp. (SAIC) is currently one of the fastest growing companies here in the Charleston, SC area for the past few years.
SAIC is a FORTUNE 500® scientific, engineering and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. The Company's approximately 41,000 employees serve customers in the U.S. Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. Headquartered in McLean, Va., SAIC had annual revenues of approximately $10.6 billion for its fiscal year ended January 31, 2012. (About SAIC 2012)
SAIC is rank number 5 on the Top 100 government contractors list of Washington Technology; with $4.1 billion in government contracts revenue and $1.4 billion in civilian contracts revenue and approximately 41,000 employees worldwide.
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...Strategic Managemen Essay Subject :s Strategic Management
Topic :
Is Business Strategy A Mixture Of Luck And Judgement, Opportunities And Design, Or More Of An Art Than A Science?
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...Strategic Management and Strategic Competitiveness
Name
Professor
BUS 499 Business Administration- Capstone
Strayer University- Maitland Campus
April 13, 2014
Abstract
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Globalization and Technology
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...SYSTEMS APPROACH TO STRATEGIC MANAGEMENT Amanda J. Gregory Centre for Systems Studies, Business School, University of Hull, Cottingham Road, Hull, HU6 7RX, United Kingdom, A.J.Gregory@hull.ac.uk ABSTRACT Strategic management involves decision-making about an organization's objectives together with the formulation and implementation of plans, particularly regarding the allocation of resources, to support their achievement. As such, strategic management is a dynamic and complex process involving consideration of internal and external factors, and the short and long term. The effectiveness of an organization’s strategic management can critically impact upon its viability and there are many reasons why the stategic management process may fail. Such reasons include failure to:  think creatively about the likely affects of plans  obtain external/internal participation and commitment  co-ordinate and control resources. In this paper it is argued that many of the reasons for failure may be attributed to the successive dominance of different reductionist approaches to strategic management. From a systems perspective it may be argued that such approaches represent partial approaches to strategic management that neglect the complex, embedded and dynamic nature of modern organizations. Accordingly, the reasons why strategic plans fail are taken to provide a framework for the evaluation of the potential contribution of a range of systems methodologies to the strategic management......

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Assess how globalization and technology changes have impacted the corporation you researched
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...Assignment 1: Strategic Management and Strategic Competitiveness
BUS 499- Business Administration Capstone
Professor Clayton Sinclair III
April 17, 2015
Strategic Management and Strategic Competitiveness
The company that I researched was The Clorox Company. The company was founded in 1913 and is a part of the household and personal care industry. According to (Forbes List, 2014), they are listed as number 98 on The Forbes list for the most innovative company and number 94 for the world’s most powerful company. They employ 8,400 employees and bring in a total sales of $5.65 billion. Clorox cleaning products consist of Tilex, 409, Pine-Sol, SOS, Clorox bleach, Formula 409, and Green Works. Their household products consist of Glad, Kingsford, Ever Fresh and Scoop Away. Their lifestyle products consist of Brita, Burt’s Bees, Hidden Valley and KC Masterpiece (The Clorox Company , 2014).
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Week 2 Assignment 1: Strategic Management & Strategic Competitiveness
Dr. Machuca
7/13/2014
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...INTRODUCTION TO STRATEGIC MANAGENT
1.0 Introduction
This chapter introduces the concept of strategic management and provides an overview of strategic management. This chapter is divided into six sections. The first section explains the evolution of the strategic management concept. This is followed by the second section on definition of strategic management. The third section describes the context in which strategic management takes place. This is followed by the fourth section which covers the scope of strategic management. The fifth section shows some of the benefits of strategic management for organizations. Finally the sixth section describes the process of strategic management.
Upon the completion of this chapter you should be able to:
1. understand the concept of strategic management
2. know the brief history of the strategic management concept
3. understand the definition of strategic management
4. know the context in which strategic management occurs
5. comprehend the scope of strategic management
6. describe the benefit of strategic management
7. know the strategic management process
1.1 Introduction to the Strategic Management Concept
Strategic management is a concept that originated from the military field. The concept of strategic management was first applied in ancient battles. The period around 500 B.C. saw numerous battles that took place Greece and China. The early written record on strategic management can be traced back during this......

...Assignment 1: Strategic Management and Strategic Competitiveness
Student’s name:
Professor’s name:
Course title: BUS 499 (Business Admin and Capstone)
Date:
Introduction
When we talk about the largest coffeehouse company, the first thing that comes to your mind is Starbucks. Starbucks Corporation was launched in 1971, it corporation is based in Seattle, Washington and has more than 16,000 outlets all over the world. Starbucks always believe that serving the best coffee is there aim, there coffee beans are grown under highest quality standards and sourced using ethical practices. Starbucks s not only limited to selling coffee but also sells verity of products, viz. coffee (more than 30 blends and single origin premium coffees), handcrafted beverages (Frappuccino, smoothies, Tazo tea, fresh brewed coffee), Merchandise (coffee and tea brewing equipment, mugs and accessories, packaged goods, music, books and gifts), Fresh Food (Baked pastries, sandwiches, salads, oatmeal, yogurt parfaits and fruit cups) and Consumer Products (coffee and tea, ready to drink products and ice-creams). They also carry other brands under their trademark Starbucks Coffee, Seattle’s Best Coffee, Tazo Tea, Evolution Fresh, La Boulange and Torrefazione Italia Coffee (Starbucks, 2012).
Impact of Globalization and Technology
The corporation I researched was Starbucks. Starbucks is a worldwide corporation that operates in around 62 countries around the world. Just like every other corporation......

...1 Definition of Strategic Management
Strategic management is the process where managers establish an organization’s
long-term direction, set the specific performance objectives, develop
strategies to achieve these objectives in the light of all the relevant internal
and external circumstances, and undertake to execute the chosen action
plans.
Strategic management steps:
• specifying an organization’s objectives,
• developing policies and plans to achieve these objectives,
• allocating resources to implement the policies
Therefore, we can see that strategic management is a combination of
strategy formulation and strategy implementation.
It is the highest level of managerial activity, usually performed by an
organization’s Chief Executive Officer (CEO) and executive team. Strategic
management provides overall direction to the enterprise.
Strategy formulation involves:
• doing a situation analysis: both internal and external; both microenvironmental
and macro-environmental.
• concurrent with this assessment, objectives are set. This involves
crafting vision statements (long term view of a possible future), mission
statements (the role that the organization gives itself in society),
overall corporate objectives (both financial and strategic), strategic
business unit objectives (both financial and strategic), and tactical
objectives.
• these objectives should, in the light of the situation analysis, suggest
a strategic plan. The plan provides the details......

...FACULTY OF BUSINESS MANAGEMENT
MGT 790 STRATEGIC MANAGEMENT
Course Outline 2011
Course Prescription
Strategic Management is the process and practice of managerial decision making and implementation that seeks to create and maintain competitive advantage. In essence it determines the long term performance of a business and as such is the role of the senior executive members to refine but the responsibility of all to roll out.
Included in the process is comprehensive environmental scanning, strategy formulation (strategic planning), strategy implementation, and monitoring.
Students in this course will review how the strategic decision makers within an organisation first identify, define and analyse commercial problems and then develop practical and ethical solutions.
It provides a practical guide for, and an initial experience in, strategy formulation and strategic management.
Class time will be largely spent in lecture, discussion, case studies and experiential exercises. Students will learn from the theoretical literature, instructor, case studies, videos, research presentations, and from each other. The course materials explain and describe the different aspects, challenges, and stages of strategic management simply and clearly.
Goals of the Course
To examine and understand the nature and role of strategy, strategic management and strategic leadership within an organization.
Learning Outcomes
1. To develop skills in strategic analysis,......